What is Raw Material? Definition, Formla, Types ...
Opening raw material + raw material purchases – closing raw material = Raw material used. Opening raw materials worth – $ 12000. Raw materials purchased worth – $ 5000. Closing raw materials – $ 9000. So let us calculate as per the above formula, 12000 + 5000 – 9000 = 8000. Thereby, when we apply the formula the result will be the raw ...